News Now

CU System

CU System briefs (04/10/2009)

* OREM, Utah (4/13/09)--A computer consultant hired to help Family First FCU with computer upgrades has been indicted on one count of bank fraud for stealing $1 million in deposits from the Orem, Utah-based credit union. Zeldon Thomas Morris, 42, was arrested Wednesday. The Federal Bureau of Investigation says he worked with the credit union from June 13, 2008, through mid-January and allegedly used the passwords to create accounts and transfer money to himself. Morris is co-owner of Lee & Morris Enterprises LLC. He was arrested after a business partner became suspicious. Morris faces a potential maximum sentence of 30 years in prison and a $1 million fine (ksl.com April 10) … * SACRAMENTO and SALINAS, Calif. (4/13/09)--The Golden 1 CU, based in Sacramento, has received approval from the California Department of Financial Institutions (DFI) to merge Steinbeck CU, a $50 million asset credit union in Salinas, into its operations. The merger proposal now goes to Steinbeck's members for a vote later this month. It needs a majority vote before the merger can proceed (Sacramento Business Journal April 8). Steinbeck management sought the merger to expand the products and services offered to members at affordable prices. DFI said The Golden 1 filed for the merger March 18 and received approval on March 25. Its CEO, Teresa Halleck told the newspaper that Steinbeck's two branches will be retained … * RALEIGH, N.C. (4/13/09)--State Employees' CU (SECU) has donated a tract of land to the city of Brevard, N.C., to aid in the development of the Davidson River Trail, which connects the local community to the Pisgah National Forest. The trail, designed to join Davidson River Campground and the forest, provides an opportunity for the credit union to give back and help educate others on the amenities in their local state forests, SECU said. Pictured is a sketch of the proposed trail located in front of SECU's Brevard branch. (Photo provided by State Employees' CU) … * NEWPORT NEWS, Va. (4/13/09)--BayPort CU of Newport News, Va., hosted the local community Shred-It Day March 28 at its Hampton and

Click for larger view

Chesapeake branches to raise awareness of identity theft and to assist local foodbanks. The credit union teamed with Wavy TV, Shred-It and ARMA International to sponsor the free service while appealing to participants to donate non-perishable foods to area foodbanks. More than 30,000 pounds of paper was shredded, and regional foodbanks received almost 4,500 pounds of canned goods, plus $350 in donations. The fofbank estimates the event will provide 5,300 meals for local residents in need. (Photo provided by BayPort CU and the Virginia Credit Union League) … * ST. LOUIS (4/13/09)--Five St. Louis credit unions have teamed up to sponsor a cooperative shred day to raise awareness of identity theft. The event is organized by the St. Louis Chapter of Credit Unions. Hosting shred trucks on April 25 with eight drop-off locations will be at Vantage CU, First Community CU, lst Financial FCU, St. Louis Community CU and West Community CU … * BURNSVILLE, Minn. (4/13/09)--USFCU raised $11,222 plus 7,115 pounds of food during its MN FoodShare campaign held throughout

Click for larger view

March. This year's 2009 FoodShare theme emulated the Parker Brothers game, Monopoly. Throughout the month the credit union's 200 employees traveled around the game board as they raised money and collected food. Bill Raker, president/CEO, noted that "even in times of financial difficulty," employees and members "still seek to make a positive impact in our community." In the photo, USFCU employees are shown helping to deliver food donations to the local food shelf. (Photo provided by US FCU) …